So you took advantage of Uncle Sam's generosity and are now sitting pretty in your new home.

But wait! There's more!

According to, you have to properly file the First Time Home Buyer and Credit repayment with our rich Uncle Sam as well.

Part of the documentation includes, showing that you didn't buy a home from a relative, incude settlement statements, confirmed that you haven't owned a home in the past 3 years.

There's also info on the increases to the standard deduction Schedule L

So save yourselves some serious headaches by getting to know these new tax requirements and hire some pros to help you with it.

Here's a sneak peek:

Form 5405
Schedule L
Form 4684

If you're like me and accounting/tax puts you in a semi comatose state, hire a pro- but at least familiarize yourself with the law.


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